JANE'S DEFENCE WEEKLY: HERE'S WHAT'S COMING

On the High priority list:

F-7 G (4 units)
Originally based on the Mig-21, the F-7G is an upgraded version of the F-7P which was custom built for the Pakistani Air Force. The aircraft being acquired by the SLAF are supposed to be optimized for the ground-attack role, and superior to the PAF's F-7P.
http://www.sinodefence.com/airforce/fighter/j7e.asp

Mig-29 SM (4 units) and Mig-29 UB Trainer (1 unit)
The MiG-29SM is the further upgraded version of MiG-29SE aircraft with improved combat capabilities in the air-to-surface operating mode. It is equipped with precision guided weapons, such as Kh-29T(D) air-to-surface missiles and KAB-500KR TV-guided bombs, and the upgraded weapon control system that significantly improves efficiency and makes the aircraft really a multirole fighter.
http://www.globalsecurity.org/military/world/russia/mig-29sm.htm

PT-6 Trainers (2 units)
http://www.hongdu.com.cn/yw/cpxx/pt6.htm

Blue Horizon 11 UAV
http://www.israeli-weapons.com/weapons/aircraft/uav/blue_horizon_2/Blue_Horizon_2.htm

JY-II mobile radars (2 units) http://www.sinodefence.com/electronics/radar/jy11.asp
At least one unit has arrived and has become operational. This is expected to fill a gap in the radar coverage that had not been filled by the Indian built Indra radars.

Main rotors for Mi-24 and Mi-24/35 helicopters, day/night camera for the Beech King signit aircraft. In addition to various other upgrades and repairs to the existing logistical aircraft, there are also plans for the setting up of repair facilities for SLAF aircraft in Sri Lanka.

Additional Beech King surveillance aircraft are also on the cards.
http://www.aerospace-technology.com/projects/raytheon_bk_air200/